Transformers & Rectifiers Q2 Update: Revenue Rises 61%

Transformers & Rectifiers (India) (

) reported strong Q2 FY27 operating performance, supported by higher revenue, improved margins and robust order inflows. The results highlight continued demand for power infrastructure equipment as electricity networks and generation capacity require significant investment. Key Q2 FY27 Highlights * Revenue from operations increased 61% year-on-year to ₹739.4 crore. * Consolidated net profit rose 135% to approximately ₹79.8 crore. * EBITDA more than doubled to ₹128.8 crore, while the EBITDA margin expanded to 17.4% from 12.8% a year earlier. * Quarterly order inflows increased 97% to ₹1,169 crore. * The unexecuted order book stood at ₹7,237 crore as of September 30, up 32% year-on-year. Why Does It Matter? The combination of stronger execution, margin expansion and fresh orders suggests improving operating momentum. The existing order book also provides revenue visibility, with execution expected over the next 18–24 months. My View Transformers & Rectifiers is positioned to benefit from investment in power transmission and related infrastructure. However, a growing order book creates value only when the company executes projects on schedule and converts them into profitable revenue. Investors should monitor capacity expansion, working-capital requirements, cash-flow conversion and whether the improved margins can be sustained. The reported profit growth is encouraging, but the quality and repeatability of earnings remain important.